The rapid expansion in the global cold chain industry is fueling the demand for industrial refrigeration systems across the world. The mushrooming sales of medicines is the biggest factor responsible for the growth of the worldwide cold chain industry. According to reports, the sales of biotech drugs and biologic products surpassed $340 billion valuation in 2019 and are predicted to rise even more in the coming years.
This is pushing up the requirement for special logistics solutions. These solutions are required to maintain the quality of temperature sensitive products such as those that need to be stored in the temperature range of 2–8 °C, during their shipping from manufacturing zones to pharmacies, clinics, patients, and hospitals across the world.
This is pushing up the requirement for special logistics solutions. These solutions are required to maintain the quality of temperature sensitive products such as those that need to be stored in the temperature range of 2–8 °C, during their shipping from manufacturing zones to pharmacies, clinics, patients, and hospitals across the world.
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The ballooning consumption of these temperature-sensitive products in both developing and developed countries is driving the demand for cold chain in the pharmaceuticals industry. This is subsequently augmenting the requirement for industrial refrigeration systems. Because of the aforementioned reasons, the demand for industrial refrigeration systems is rising rapidly across the globe.
This is, in turn, propelling the advancement of the global industrial refrigeration systems market. As a result, the market revenue is predicted to grow from $26.8 billion to $41.1 billion from 2019 to 2030. Furthermore, as per the estimates of P&S Intelligence, a market research company based in India, the market would advance at a CAGR of 5.0% between 2020 and 2030.
This market research report provides a comprehensive overview of the industrial refrigeration systems market
The ballooning consumption of these temperature-sensitive products in both developing and developed countries is driving the demand for cold chain in the pharmaceuticals industry. This is subsequently augmenting the requirement for industrial refrigeration systems. Because of the aforementioned reasons, the demand for industrial refrigeration systems is rising rapidly across the globe.
This is, in turn, propelling the advancement of the global industrial refrigeration systems market. As a result, the market revenue is predicted to grow from $26.8 billion to $41.1 billion from 2019 to 2030. Furthermore, as per the estimates of P&S Intelligence, a market research company based in India, the market would advance at a CAGR of 5.0% between 2020 and 2030.
This market research report provides a comprehensive overview of the industrial refrigeration systems market
- Historical and the present size of the industrial refrigeration systems market
- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
